The Price Elasticity of Supply Measures How Responsive

question 60

Multiple Choice

The price elasticity of supply measures how responsive

• A)equilibrium price is to equilibrium quantity.
• B)sellers are to a change in buyers' income.
• C)sellers are to a change in price.
• D)consumers are to the number of substitutes.

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A reference to the followers and supporters of Franklin D. Roosevelt's New Deal programs in the 1930s, advocating for government intervention in the economy to address the Great Depression.